The SEC has finalized rules updating the statistical disclosures that bank and savings and loan registrants provide the investors.

The NCUA has issued a proposal that would allow credit unions to smooth the impact of adopting the new credit loss model known as CECL.

In this webinar, we will discuss the key challenges and lessons learned by SEC issuers adopting the current expected credit loss (CECL) model and Topic 326. We also will discuss how the impacts of COVID-19 and general economic uncertainty caused…

In February, agencies released a final interagency policy statement on the allowance for credit losses related to the implementation of the CECL methodology. Catch the highlights of the policy statement in this article along with other potential…

The U.S. Senate Appropriations Committee issued report language in the recently passed Consolidated Appropriations Act for Fiscal Year 2020 that includes a section directing federal financial regulators to conduct a study on the need, if any, for…

Given the magnitude of changes created by CECL, FASB has issued several subsequent amendments to clarify implementation and transition issues that are reflected in this white paper. FASB also established a Transition Resource Group (TRG) for Credit…

With CECL’s effective date for large SEC registrants approaching, FASB recently issued Accounting Standards Update 2019-11, which clarifies the accounting treatment on several issues—negative allowances, troubled debt restructuring transition,…

The SEC recently issued Staff Accounting Bulletin (SAB) 119, which updates previous guidance to reflect the new credit impairment rules in FASB’s Accounting Standards Update 2016-13, commonly referred to as CECL. SAB 119 updates methodologies and…

FASB has issued two accounting standards updates delaying the effective date for several major standards—Leases, CECL, Hedging and Insurance. Acknowledging the magnified challenges and costs for smaller entities when transitioning to a new guidance,…

FASB recently approved a set of CECL technical corrections that will be issued shortly but soundly rejected a proposal to consider changing the guidance on acquired financial assets in a business combination. Read on for more details.